Ripple Price Analysis Jan.16: XRP Steady Despite BTC's Weakness

Ripple Price Analysis Jan.16: XRP Steady Despite BTC's Weakness

Currently, the volume of Bitcoin remains high at $5.7 billion, and the trading activity in the cryptocurrency market has increased by a relatively large margin, suggesting that bulls are demonstrating some resistance in a low price range. After another drop on Sunday, the 24-hour daily trading volume now stands at $11.5B while the total market valuation stands at $118B. Over the last seven days, Bitcoin X has traded down 18.9% against the dollar.

Bitcoin (BTC) has seen practically no change on the day, but the market today was not exactly flat.

"Damn. I want this forecast to be so true! bitcoin for 2000$ is awesome, it will be bought incredibly fast at this price and the true accumulation phase will start and lead to the next bubble..." As Cointelegraph indicated in their report, Ripple now has a market cap of $13.57 billion, while Ethereum's is at $13.3 billion based on the latest price action.

TRON (TRX) traded 7.6% higher against the dollar and now trades at $0.0245 or 0.00000683 BTC.

XRP/USD may continue higher if it surpasses the USD 0.330 resistance level.

Mithril (MITH) traded down 4.8% against the dollar and now trades at $0.0547 or 0.00001492 BTC. If not, XRP to BTC could break the 0.0000885BTC support and trade towards the 0.0000850BTC or 0.0000840BTC level in the near term. There was a break above the 50% Fib retracement level of the last dive from the $3,649 high to $3,372 low.

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Bitcoin (BTC) traded 1.2% higher against the dollar and now trades at $3,678.43 or 1.00000000 BTC.

Bytecoin (BCN) traded up 5.3% against the dollar and now trades at $0.0006 or 0.00000018 BTC.

BTX is a proof-of-work (PoW) token that uses the Time Travel hashing algorithm. It launched on April 23rd, 2017. Bitcoin File's total supply is 21,050,000,000 coins. The Reddit community for Bitcore is /r/bitcore_btx and the currency's Github account can be viewed here.

An afternoon slide saw Bitcoin Cash ABC fall to an intraday low $124.05, calling on support at the first major support level at $124.19 before recovering to $125 levels by the day's end.

Follow Chepicap now on Twitter, YouTube, Telegram and Facebook! Bitcoin X has a total market capitalization of $9,911.00 and approximately $600.00 worth of Bitcoin X was traded on exchanges in the last 24 hours. It is usually not possible to purchase alternative cryptocurrencies such as Bitcoin X directly using US dollars. Investors seeking to trade Bitcoin File should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Bitcoin X using one of the exchanges listed above.

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